Update: China’s fixed-asset investment up 4 pct in first five months


BEIJING, June 17 (Xinhua) — China’s fixed-asset investment rose 4 percent year on year in the first five months of 2024, data from the National Bureau of Statistics (NBS) showed Monday.

The investment topped 18.8 trillion yuan (about 2.64 trillion U.S. dollars) during the period, the NBS said in a statement.

Investment in infrastructure construction rose 5.7 percent from a year ago, and manufacturing investment increased 9.6 percent during the period.

Investment in property development, however, fell 10.1 percent year on year during the January-May period, according to the NBS.

Excluding the property development investment, the country’s fixed-asset investment climbed 8.6 percent during the first five months.

Investment in high-tech industries posted robust growth in the first five months of 2024, rising by 11.5 percent from the previous year. In particular, investment in high-tech manufacturing and services expanded by 10.4 percent and 14.3 percent, respectively.  ■

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